Sweetgreen (SG) Earnings: Q3 2026 Results

The quarter ended September 27, 2026 and Sweetgreen published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Sweetgreen's fiscal quarters are 13 weeks; Q3 2026 ended September 27, 2026 and Q3 2025 ended September 28, 2025. Sweetgreen reports in thousands; figures here are in millions.
• Sweetgreen reports one EPS figure, net loss per share on a GAAP basis. Its non-GAAP measures are Restaurant-Level Profit and Adjusted EBITDA, which are not per-share figures.

Source: Sweetgreen Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 27, 2026. Figures as reported; checked against the release on November 10, 2026.

How Sweetgreen splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Sweetgreen's Owned Digital Channels revenue was $66.9 million in Q3 2026, up 10% from $60.8 million in Q3 2025, 38% of total revenue.
• Sweetgreen's In-Store Channel (Non-Digital component) revenue was $59.6 million in Q3 2026, down 10% from $65.9 million in Q3 2025, 34% of total revenue.
• Sweetgreen's Marketplace Channel revenue was $49.5 million in Q3 2026, up 8% from $45.7 million in Q3 2025, 28% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Sweetgreen said:

“Approximately 10 Net New Restaurant Openings, with about half featuring the Infinite Kitchen”

“Same-Store Sales Change of about (5.5)%”

“Restaurant-Level Profit Margin of 11.0% to 11.5%”

“Adjusted EBITDA between $(23.0) million to $(20.0) million”

Source: Sweetgreen Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the SG forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release. Q1 2026 EPS of $1.05 includes the gain on Sweetgreen's sale of its Spyce kitchen automation business to Wonder.

We do not hold a confirmed date for Sweetgreen's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

Sweetgreen's revenue was $176.0 million in Q3 2026, up 2.1% from $172.4 million. New restaurants added $13.8 million: 30 Net New Restaurant Openings during or after Q3 2025. Revenue from the Comparable Restaurant Base fell $10.7 million, and Same-Store Sales Change was (6.4)%, against (9.5)% a year earlier. (Sweetgreen Q3 2026 release, Nov 5, 2026)

Sweetgreen broke the (6.4)% Same-Store Sales Change into a 4.9% decrease in traffic and a 2.1% decrease in product mix, partly offset by a 0.6% benefit from menu price increases. It attributes the traffic drop mainly to reduced demand during a multistate cyclosporiasis outbreak identified in July 2026, although no ingredients in its supply chain were identified in the investigation. The product mix decline came from a shift toward wraps. (Sweetgreen Q3 2026 release, Nov 5, 2026; Sweetgreen Form 10-Q, Q3 2026, Nov 6, 2026)

By channel, Sweetgreen's Owned Digital Channels brought in $66.9 million, the Marketplace Channel, which third-party delivery marketplaces operate, $49.5 million and the non-digital part of the In-Store Channel $59.6 million, down from $65.9 million. Total Digital Revenue Percentage was 66.1%, up from 61.8%, and Owned Digital Revenue Percentage 38.0%, up from 35.3%. (Sweetgreen Form 10-Q, Q3 2026, Nov 6, 2026; Sweetgreen Q3 2026 release, Nov 5, 2026; Sweetgreen Form 10-K, fiscal 2025, Feb 27, 2026)

Sweetgreen notes that its Native Delivery, Outpost and Catering, and Marketplace Channels carry higher costs, including third-party fees, refunds and promotions, so a shift in mix toward them can pressure margins. Average Unit Volume was $2.5 million, against $2.8 million a year earlier, and Sweetgreen had 290 locations at the time of the release. (Sweetgreen Form 10-Q, Q3 2026, Nov 6, 2026; Sweetgreen Q3 2026 release, Nov 5, 2026)

Sweetgreen's net loss narrowed to $(30,748) thousand, or $(0.26) per share, in Q3 2026 from $(36,146) thousand, or $(0.31). General and administrative expense fell to $27.6 million from $30.9 million, mainly on a $2.5 million drop in stock-based compensation, and impairment and closure costs fell to $2.1 million from $4.6 million. Restaurant-Level Profit declined $4.2 million. (Sweetgreen Q3 2026 release, Nov 5, 2026)

Restaurant-Level Profit Margin was 10.4%, down 270 basis points, on sales deleverage and higher labor. Labor and related expenses were 30.5% of revenue against 29.1%, while food, beverage and packaging fell to 28.8% from 30.7%. Adjusted EBITDA, which excludes stock-based compensation and other items, was $(6.8) million against $(4.4) million. (Sweetgreen Q3 2026 release, Nov 5, 2026)

For the first 39 weeks of 2026 Sweetgreen reported net income of $68.8 million, or $0.57 per diluted share, because of a $160.5 million gain on disposal of business from selling Spyce and its Infinite Kitchen technology to Wonder Group. Part of the consideration was $86.4 million of Wonder Series C Preferred Stock. Weighted average shares in Q3 were 119,110,088. (Sweetgreen Q3 2026 release, Nov 5, 2026; Sweetgreen Form 10-Q, Q3 2026, Nov 6, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Sweetgreen gives a fiscal-year outlook in its release. With Q3 2026 results it updated 2026 guidance to approximately 10 Net New Restaurant Openings, about half with the Infinite Kitchen, Same-Store Sales Change of about (5.5)%, Restaurant-Level Profit Margin of 11.0% to 11.5% and Adjusted EBITDA between $(23.0) million and $(20.0) million. (Sweetgreen Q3 2026 release, Nov 5, 2026)

Sweetgreen expects about half as many Net New Restaurant Openings in fiscal 2027 as in 2026. CEO Jonathan Neman said sales improved through the quarter and comparable sales were positive in October, mainly on transaction growth. (Sweetgreen Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Sweetgreen, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Sweetgreen's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning SG is on is SG a buy or a sell?, what analysts expect next is on the SG forecast, and what the company does is on the Sweetgreen (SG) stock page.

Every number on this page can be traced to a document Sweetgreen published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.